World Bank to Lend $5B-$7B to Vietnam’s Transport Projects: Country Director
The World Bank (WB) will provide $5 billion-$7 billion worth of loans for transport infrastructure projects in Vietnam as proposed by the Prime Minister, said WB Country Director for Vietnam Carolyn Turk.
Earlier at a working session with Minister of Transport Nguyen Van Thang, Ms. Carolyn Turk said the Vietnamese Prime Minister proposed borrowing loans for transport infrastructure projects, especially railways, expressways, highways, and urban infrastructure, in the next three years.
Therefore, the WB expects the Ministry of Transport to offer specific projects and their schedule.
Meanwhile, Mr. Thang proposed the WB provide loans for major projects such as the $3.2-billion Bien Hoa-Vung Tau railway, the VND35.8-trillion ($1.49 billion) Pleiku-Quy Nhon expressway, and the VND10.8-trillion Cam Lo-Lao Bao expressway.
Besides, Vietnam expects to receive the WB’s support in technical assistance projects, focusing on high-speed railways, expressways, and projects related to reducing greenhouse gas emissions in transport and implementing Vietnam’s commitments at the COP26 conference, Mr. Thang noted.